Thai consumer confidence rose for the sixth consecutive month (to 84.8 points in March from 84 in February), reaching a seven-year high. Consumers are increasingly confident about the country's economic prospects, the recovery of world economies, the growth of tourism and the long-term infrastructure plan adopted by Bangkok. In particular, the infrastructure plan was designed to boost investment and domestic spending over the next seven years and was approved in principle by Parliament last February.
A committee made up of members of parliament and university representatives from the Thai Chamber of Commerce will discuss the details of the various projects that make up the plan. The Finance Ministry expects to get 2 trillion baht to support investment. The first projects should start in August. Thanavath Phonvichai, vice-president for research and director of the University of the Thai Chamber of Commerce said he was confident that the Thai economy will grow by 5% this year.
